What describes a mixture of two immiscible liquids where one is dispersed as small droplets in the other?

An emulsion is a type of mixture that consists of two immiscible liquids, where one liquid is suspended in the other in the form of small droplets. This phenomenon occurs because the two liquids do not mix well, leading to the formation of tiny droplets of one liquid distributed throughout the other. Emulsions are often stabilized by emulsifying agents that prevent the separated liquids from coalescing.

In contrast, a solution refers to a homogeneous mixture where one substance (the solute) is completely dissolved in another (the solvent), resulting in a uniform composition. An alloy is a mixture of metals, where the components are melted together and mixed on a molecular level, rather than remaining as separate phases. A suspension, while similar to an emulsion in that it contains particles dispersed in a liquid, is typically characterized by solid particles suspended within a liquid, instead of drops of liquid dispersed in another liquid.

Thus, the defining characteristic of an emulsion—where one liquid is dispersed in another—makes it the correct answer.